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EG On The Move’s UK network currently has 285 locations after it announced the acquisition of 85 Prax petrol forecourts for an undisclosed sum, on top of 27 sites it bought from independent petrol forecourt operator MPK Garages in May.
Zuber founded EG On The Move when he acquired the forecourt division of the EG Group in a £228m deal in 2024, stepping down as co-chief executive.
Following the breakup of the business empire he built with his brother Mohsin, he has been actively growing his new company.
Meanwhile, EG Group has confidentially submitted paperwork to the US Securities and Exchange Commission (SEC) for a share sale that could raise roughly $1bn and value the business at more than $9bn, according to a report in the Financial Times.
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Blackburn billionaire Zuber Issa continues to move forward in his mission to create a ‘retail powerhouse’ in the independent petrol forecourt sector.
His EG On The Move business announced in early August it had completed the acquisition of 260 sites in France.
The deal to purchase the sites from EG Group – the global business he and his brother Mohsin founded in 2001 – was first revealed in February.
Announcing the deal completion, the group said: “The completion of the transaction marks a significant milestone in EG On The Move’s strategic growth plans and further strengthens the company’s presence in a key European market.
“The acquired network provides a strong platform to accelerate investment, enhance operational performance and expand customer-focused retail and mobility for customers across France.”
Zuber, chief executive of EG On The Move, which is based at Waterside in Blackburn, believes France represents a ‘significant opportunity’ for the business.
He said: “This is an important step in the continued growth of EG On The Move and reflects our confidence in the strength and long- term potential of the French market.
“We are committed to investing in the acquired network to enhance the customer offer and
Sources told the newspaper that the convenience retailer had filed privately with the regulator, with a launch of the initial public offering (IPO) expected in the coming months.
The company is believed to have chosen New York for the much anticipated listing instead of London, although it was established in east Lancashire.
And the business may list under the title Cumberland Farms, the largest of its American convenience and retail brands.
London based private equity company TDR Capital holds a 50 per cent stake in the company while founders Zuber and Mohsin each own a 25 per cent stake.
This is an important step in the continued
growth of EG On The Move and reflects our confidence in the strength and long-term potential of the French market
experience, support our colleagues and drive long-term sustainable growth.
“We look forward to working closely with our French team, whose expertise and dedication will be central to our success, and to supporting them in delivering positive outcomes for our customers, employees, partners and local communities.”
It was revealed last year that EG Group was poised to quit its Blackburn headquarters for America as part of its ‘continued transition to a US managed organisation’.
As part of that transition its group headquarters is being relocated to Charlotte in North Carolina where key financial, legal and other corporate personnel will be based.
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